Finance

U.S. government bond yields extended their upward trajectory, hitting fresh cycle highs despite cooling employment figures. The 10-year Treasury yield continuously hovered near 5.3%, while the 30-year yield advanced further to 5.62%. The prolonged rise in yields continues to create cross-asset headwinds, forcing investors to re-examine equity valuations as fixed-income assets present stronger competition for capital.

Energy prices eased following an official agreement from G7 nations to immediately release 100 million barrels of diesel and petroleum stockpiles. The intervention was designed to ease supply constraints exacerbated by ongoing geopolitical conflicts involving Iran. International benchmark Brent crude settled near the $102 mark, helping calm broader equity market anxiety regarding energy-driven inflation spikes.

Technology and chipmaker stocks continued to serve as the primary drivers of broad equity gains, led by a surge in Nvidia shares to a new record high. Additionally, memory supplier Micron Technology reported exceptionally strong revenues that quadrupled year-over-year, citing a massive inventory shortfall for high-bandwidth memory chips. The chip sector's performance lifted the broader market and sparked positive spillover effects across global high-tech tracking indexes.